Organizations can use the general best-practice steps included in this audit program to conduct an accounts payable review audit.
Sample steps include: hold a closing meeting with key company management to review draft internal audit reports and findings, publish the final report and distribute it, compile test work and key support data into a work paper binder, include a binder index of key information, include a final budget vs. actual (BVA) summary for the job in the work paper binder, include a copy of the final report in the work paper binder, and follow up on satisfaction surveys.
Accounts Payable Process Key Performance Indicators (KPIs)
Policies & Procedures
Accounts Payable Document Preparation Policy
Risk & Control Matrices - RCMs